Iterative Refinement

His concern may have something to do with the fact that p2 is not suppose to be inside the prev traverse.

 

Bingo.

- Spydertrader

 

Except for certain cases of channel overlap. In other words the above doesn't always hold true for channels.

http://www.elitetrader.com/vb/attachment.php?s=&postid=2135502

http://www.elitetrader.com/vb/showthread.php?s=&postid=2087324#post2087324

EDIT: Obviously a different context. Just preempting possible questions.

 

Thanks, ehorn. Attached is my attempt. I added an increasing red tape-level Gaussian at the end so I could complete the pretty picture.

The type of day is a trending day.

Legend:
Thin red and black lines = tapes of the faster fractal traverses
Orange and green lines = faster fractal traverses; these lines also represent tapes at the ES-only fractal
Pink and blue lines = traverses at the ES-only fractal
Red = channel at the ES-only fractal

Edit: Oops, I already see an error. The thin red tape exiting the RTL of the blue Traverse should exit the green RTL but should stay inside of the blue RTL.

 

Yes, but the bar labeled pt3 on your chart doesn't actually touch the RTL, which was formed by the (unlabeled) p3 on the 1:50 bar.

You could draw in a new (3rd) steeper traverse, from 2:05 p1 to 2:40 p3 - which would also end the 'problem' of the down traverse p2 being inside the up traverse.

- palinuro

 

Thank you Spyder.

 

Identifying traverse level pt 3's has become a "focus" for me over the last couple of days...as I presently understand the method, the 1:50 bar is a tape level pt 3. I'm not sure if there is a rule about whether a traverse pt 3 can reside within a tape pt 3 or not.Where's Romanus???

 

Hey Ehorn, thanks so much for your gaussian drill. The fractal nature of the market never ceases to amaze me. Already printed it 7 times and it keeps getting more and more interesting!

 

A big focus for me too, also the action getting there. It doesn't seem to me to divide into 3 distinct fractals, since tapes have pauses, traverses can widen into channels, and in any case channels exist within other channels.

Anyway, here's my take on the last two moves friday - I'd quit trading (friday afternoons are dull, right?), so this was after the close. But based on this, I don't see what differentiates the signals in those two areas, until some point within the last bar, which continues up in one case and reverses down in the other.

- palinuro

 

This is how I viewed the last (traverse?)